MANILA, Oct. 22 (Xinhua) -- Asian Development Bank (ADB) President Masato Kanda and Japan Financial Services Agency (JFSA) Commissioner Yutaka Ito signed a cooperation agreement on Wednesday to strengthen financial sector development in Asia and the Pacific.
The agreement focuses on helping the region's emerging economies deploy more technology for financial inclusion, develop their capital markets, and embrace measures to build more resilient and stable financial systems, the Manila-based bank said in a press release.
"More open trade and stronger financial institutions and systems are needed to ensure regional economies benefit from sustainable growth, while building greater resilience to shocks," said Kanda.
"Working together, we will connect global investors with Asia's immense growth opportunities and create a virtuous cycle of demand and supply for long-term capital investment," he said.
The ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Founded in 1966, it is owned by 69 members -- 50 from the region. ■